Insider Buying: Orange County Bancorp, Inc. (NASDAQ:OBT) Director Acquires 6,451 Shares of Stock

Orange County Bancorp, Inc. (NASDAQ:OBT - Get Free Report) Director Jon Schiller bought 6,451 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were purchased at an average cost of $23.25 per share, for a total transaction of $149,985.75. Following the purchase, the director now owns 12,446 shares in the company, valued at $289,369.50. This represents a 107.61% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Orange County Bancorp Stock Up 1.7%

Shares of OBT traded up $0.41 during midday trading on Friday, hitting $24.38. The company had a trading volume of 2,923 shares, compared to its average volume of 27,662. The company's 50-day simple moving average is $24.34 and its 200-day simple moving average is $25.92. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market capitalization of $277.49 million, a P/E ratio of 9.87 and a beta of 0.48. Orange County Bancorp, Inc. has a 1 year low of $20.97 and a 1 year high of $33.06.

Orange County Bancorp (NASDAQ:OBT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.10. The business had revenue of $27.98 million during the quarter, compared to analysts' expectations of $28.10 million. Orange County Bancorp had a return on equity of 15.51% and a net margin of 19.47%. As a group, sell-side analysts expect that Orange County Bancorp, Inc. will post 2.83 EPS for the current year.

Orange County Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Wednesday, June 4th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Wednesday, June 4th. Orange County Bancorp's payout ratio is presently 21.58%.

Analyst Ratings Changes

Separately, Hovde Group began coverage on Orange County Bancorp in a research note on Monday, May 12th. They issued an "outperform" rating and a $30.50 price objective for the company.

Hedge Funds Weigh In On Orange County Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hudson Valley Investment Advisors Inc. ADV lifted its stake in Orange County Bancorp by 95.8% during the first quarter. Hudson Valley Investment Advisors Inc. ADV now owns 1,178,905 shares of the company's stock worth $27,575,000 after purchasing an additional 576,721 shares during the last quarter. Wellington Management Group LLP lifted its stake in Orange County Bancorp by 92.4% during the first quarter. Wellington Management Group LLP now owns 509,258 shares of the company's stock worth $11,912,000 after purchasing an additional 244,503 shares during the last quarter. Meeder Advisory Services Inc. purchased a new stake in Orange County Bancorp during the first quarter worth approximately $2,661,000. American Century Companies Inc. lifted its stake in Orange County Bancorp by 130.7% during the first quarter. American Century Companies Inc. now owns 123,996 shares of the company's stock worth $2,900,000 after purchasing an additional 70,243 shares during the last quarter. Finally, Carnegie Investment Counsel purchased a new stake in Orange County Bancorp during the first quarter worth approximately $664,000. Hedge funds and other institutional investors own 42.55% of the company's stock.

Orange County Bancorp Company Profile

Orange County Bancorp, Inc, through its subsidiaries, provides commercial and consumer banking products and services, and trust and wealth management services to small businesses, middle-market enterprises, local municipal governments, and individuals. It accepts various deposits, including interest-bearing and noninterest-bearing demand accounts, money market deposit accounts, savings accounts, and certificates of deposit.